SC Ventures partners Japanese financial conglomerate SBI

05/09 23:41

SC Ventures, Standard Chartered’ s innovation, fintech investment and ventures arm, announced that it had entered into a memorandum of understanding (MOU) with SBI Holdings, Inc to expand their portfolio, both at a business and geographic level, and to explore new ecosystems through this partnership. SBI is a major Japanese financial conglomerate, with verticals in asset management, financial services and biotechnology-related businesses. Its venture capital fund has a diverse investment portfolio covering internet technology, fintech, artificial intelligence and big data, blockchain and crypto assets. The MOU is structured to cover three main areas - (1) Opportunities to drive collaboration as well as co-invest in portfolio companies, including the option to establish joint venture funds, (2) Cooperation for business development to set up or scale business models leveraging each other’s geographic footprint (3) Creating ecosystems around particular themes to drive scale and impact (some examples include SMEs and supply chains, digital assets, decentralised finance, Web 3.0).
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